Akuwa to develop 1500MW energy storage

Aqua Power announced the signing of agreements with the Saudi Power Purchase Company to develop and operate three energy storage projects using independent battery technology in the regions of Hail and Makkah in the Kingdom. The total capacity of these projects is 1,500 megawatts, with an energy storage capacity of up to 6,000 megawatt-hours. Each project has a production capacity of 500 megawatts, with a contract duration of 15 years. Each project will hold a 34.9% stake. The projects focus on integrating renewable energy sources, enhancing the flexibility and stability of the electrical grid. Costs and financial impact will be determined after meeting the financial closing conditions, aiming to support Saudi Arabia's energy infrastructure.

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